Printable Format79-506. Same; interim standards; time for adoption of final standards. (a) The uniform standards of professional appraisal practice as promulgated by the appraisal standards board of the appraisal foundation in effect on March 1, 1992, for all dates of valuation on or after January 1, 1993, are hereby adopted upon the effective date of this act as interim standards.
(b) Rules and regulations or appraiser directives promulgating appraisal standards adopted by the director of property valuation shall be proposed not later than six months and shall be adopted in final form and become effective not later than 12 months following the effective date of this act.
History: L. 1992, ch. 249, ยง 2; July 1.
CASE ANNOTATIONS
1. Oil lease experiencing production decline late in year previous to assessment properly valued by consideration of post-January production data. Board of Ness County Commr's v. Bankoff Oil Co., 265 Kan. 525, 542, 960 P.2d 1279 (1998).
2. BOTA's valuation adequately supported by evidence and not otherwise arbitrary, capricious or unreasonable; appraisal in violation of USPAS prohibited. In re Tax Appeal of Dillon Stores, 42 Kan. App. 2d 881, 221 P.3d 598 (2009).
3. Failure by COTA to adhere to practice standards may constitute a deviation from a prescribed procedure or an error of law. In re Tax Appeal of Brocato, 46 Kan. App. 2d 722, 234 P.3d 866 (2010).